Dr. Reinhard Platzer

CEO and Chairman of the Executive Board Kommunalkredit Austria AG CEE Environmental Funds Network 24 th - 26 th September 2001 Füllung Füllung 30.04.2020

Kommunalkredit Austria AG

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Kommunalkredit Austria AG

Total assets : (31-08-2001) Employees : EUR 4,528.4 million 115 Vienna Management of the Environmental and Water Management Fund Total assets: (31-12-2000) EUR 3,316.1 million 30.04.2020

Kommunalkredit Austria AG, Türkenstraße 9, 1092 Vienna, Austria 2

Ownership

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Investkredit Bank AG Dexia Crédit Local 49 Dexia Crédit Local % 51 Investkredit 30.04.2020

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Rating Moody's Investor Service

Kommunalkredit Austria AG

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Bank Deposits LT/ST

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Long-Term Senior Debt

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Financial Strength Investkredit Bank AG Dexia Crédit Local Austria 30.04.2020

Aa3/P-1 Aa3 C+ A1 Aa2 Aaa 4

Business profile

Financing of Infrastructure Treasury 30.04.2020

Management of Trust Funds International Strategy Dexia Kommunalkredit Holding GmbH 5

KEY FINANCIAL FIGURES 30.04.2020

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Total assets

[ 5,0 4,5 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 1996 [ € billion ] 1997 Total assets € million] * Kommunalkredit-Group 1996 687 30.04.2020

1998 1997 1.092

1998 1.507

1999 1999 2.219

2000* 2000* 3.363

31-08-2001 31-08-2001* 4.528

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Kommunalkredit Group 31-12-2000 / 31-08-2001

Loans to customers Total assets Net interest income Profit after taxes Return on equity after taxes 31-12-2000 [ € million] 2,117.8

3,363.2

18.9

10.1

17.8% 31-08-2001 [ € million] 2,849.7

4,528.4

19.3

13.5

20.5% Change/ share in % + 34.6% 31-08-2001 [ATS million] 39,212.1

+ 34.7% 62,311.5

102.2% 133.5% 265.3

185.4

Profit after taxes 2000 surpassed by 33% by the end of August 30.04.2020

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Operating Result - Profit after Taxes

2 0 6 4 14 12 10 8 [ € million] 1996 in € million Profit after taxes 1997 1996 2.6

1998 * Kommunalkredit Group 1999 1998 5.4

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2000* 2000* 10.1

31-08-2001* 31-08-2001* 13.5

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Return on Equity

25 [%] 20 15 10 5 0 1996 RoE after taxes 31-12-2000 31-08-2001 * KommunalkreditGroup 30.04.2020

1997 RoE after taxes 1998 1999 2000* 31-08-2001* Kommunalkredit Group 17,8 % 20,5 % 10

Economic Value of Equity

1.600

1.400

1.200

1.000

800 600 400 200 0 [ € per share] 1990 1993 1997 1990 116.3

1993 239.8

Participation of Dexia 1997 363.4

First increase of capital 30.04.2020

1/2001 8/2001 1/2001 908.4

Second increase of capital 8/2001 1,650 Own calculation 11

THE WAY TO BECOME A EUROPEAN SPECIAL-PURPOSE BANK 30.04.2020

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Development of Kommunalkredit

1958 1990 1992 Foundation of Kommunalkredit as a bank specialized in municipal financing General agreement: Kommunalkredit remains special-purpose bank for financing of public sector infrastructure projects Crédit Local de France purchases 26% of the share capital 1993 1995 1998 2000 KA is entrusted with the management of the Environmental and Water Management Fund and the Austrian Environmental Support Scheme KA strengthens its engagement within EU-environmental programmes (PHARE, TACIS) and becomes Partner of World Bank and EBRD Dexia Crédit Local and KA sign a co-operation agreement strategic movements in the CEE-Markets on common Dexia and KA establish Dexia Kommunalkredit Holding: PKB - first participation in Central Europe 30.04.2020

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Structure of Subsidiaries Kommunalkredit Austria AG

as of 08-08-2001 Dexia Crédit Local

Paris 49 %

Investkredit Bank AG

Vienna 51 % 50,84%

Kommunalkredit Austria AG Vienna

49,16 % Dexia Kommunalkredit Holding G.m.b.H

Vienna 100 % 78,4 % Prvá komunálna banka, a.s.

Zilina (SK) 9,63 % Komunálna poistovna, a.s.

Banska Bystrica (SK) KOFIS LEASING, a.s.

Zilina (SK) 100 % Komunálna realitná spolocnost, s.r.o.

Banska Bystrica (SK) 100 % Kommunalkredit Beteiligungs und Immobilien G.m.b.H

Vienna 100 % Kommunalkredit Finance & Leasing, s.r.o. Prag (CZ)

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The Role of a Special-Purpose Bank?

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Allocation of long term loans Know-how for special financing arrangements High flexibility and customer-oriented service Cost-efficient structures Considerable funding advantages (Basel II) International study confirms: Niche-player have efficency advantages

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1,400 banks in 13 countries researched Competitve advantage has grown from 13% to 23% Bank CIR Niche 64 1995 Universal 72 Niche 57 1999 Universal 70 15

Our Targets in Central Europe

Dexia Kommunalkredit Holding Ltd.

Kommunalkredit F. & L. s.r.o.

Switzerland: Smaller municipalities Prvá Komunálna Banka a.s. (PKB) Total assets: € 459,6 mln.

Kofis Leasing 30.04.2020

Participations are planned in Czech Republic, Hungary, Poland and Slovenia 16

A MODEL FOR CENTRAL EUROPE 30.04.2020

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Sale of Loans - a Model for Central Europe

1958 Creation of the Water Management Fund

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Water supply & municipal waste-water management

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Industrial sewage measures (since 1970)

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Prevention of environmental pollution (since 1987) 1992 – 1993 Kommunalkredit was entrusted with the reorganisation of the Fund up to 1992 : Low-interest loans by the Fund (1 % to 3 % interest) with a maturity of up to 50 years Change in the type of support: since 1993: annuity-subsidies to loans by commercial banks (over a period of 25 years) Since 1996 selling of settled loans of the Fund EUR 362 million will be sold in October 2001 30.04.2020

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Sale of Loans - a Model for Central Europe

Austrian Environmental and Water Management Fund Loans as of 31-12-1995 EUR 5,380.7 million Amounts in EUR million Nominal Value Revenue Loans as of 31-12-2000 1996 459.5

327.9

1997 819.9

1,334.2

1998 751.7

531.2

2000 Total 1,276.9

815.6

4,568.0

3,008.9

EUR 653.8 million Reduction of gross national debt (Maastricht criteria) Revenue is used for further investments in the water management area 30.04.2020

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Summary

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Core Competence: Specialist Bank for infrastructure financing Specialisation guarantees competitive advantage Together with Dexia - Expansion in Central Europe Sale of loans may be a model for Central Europe 20

CONTACT LIST

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CONTACT LIST

Reinhard Platzer Gerhard Gangl Phone CEO and Chairman of the Executive Board +43-1-31 6 31 100 Member of the Executive Board 200 Patrick Giacobbi Member of the Executive Board 300 Kommunalkredit Austria AG Türkenstraße 9, 1092 Vienna Fax E-mail 500 kommunal@kommunalkredit .at

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Contact List

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Bernhard Sagmeister Danilo Fras Willibald Schebesta Thomas Fendrich Kommunalkredit Austria AG Türkenstraße 9, 1092 Vienna Phone Head of Trust Management Head of Trust Management Deputy-Head of Financing +43-1-31 6 31 320 310 150 Senior Trader 640 Fax E-mail 500 [email protected]

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www.kommunalkredit.at

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